UM Curators to discuss tuition increases in Thursday meeting
COLUMBIA, Mo. (KMIZ)
University of Missouri System Curators are set to meet at 8:00 a.m. Thursday to discuss the University's budget, tuition increases and student success, among other topics.
The meeting will be held by phone call or Zoom and is open for the public to attend virtually.
Among the topics scheduled for discussion is a tuition increase. Ryan Rapp, the vice president for finance and the chief financial officer at the University of Missouri System, is set to lead the presentation.
In meeting documents, Rapp says the tuition increase is necessary to support student success and academic excellence.
The proposal would increase undergraduate tuition and fees by 2-5% for fall 2021.
Rapp goes on to say in the meeting documents that tuition increases 2-3% above inflation are necessary in order to be sustainable. The presentation cited the loss of 400 tenured faculty positions over the last two decades, student-to tenured faculty ratios increasing from 23:1 to 37:1, and Missouri students leaving the state for institutions with greater resources.
Documents also show while graduation rates are improving, they still fall short of neighboring states such as Oklahoma, Arkansas and Kentucky.
Rapp says while the UM System is working towards more student-friendly models, it needs legislative action in order to move forward.
Rapp also plans to discuss the operating budget, saying that tuition increases alone won't solve competitiveness.
Meeting documents suggest improvements are needed in research growth, philanthropy and public investment.
The University is set to receive more than $270,000 in federal stimulus money in 2021 and 2022, which curators say has been a significant help to the UM System.
